Debt Advisory

Debt financing is a sensitive matter and requires competent advice from experienced partners. Our experts have a large network in the capital markets and understand how to respond to the expectations of the various interest groups.

Debt financing

There are any number of reasons why financing advice could become necessary: new investments required, acquisition financing, a change among the shareholder base, or a refinancing of existing credit lines. We offer you optimal support in the process of structuring, tendering, and negotiating complex financing transactions, and thereby give you significant negotiating advantages in a competitive environment.

Restructuring of liabilities

Our experts at TD Cowen have gained extensive experience in advising private and listed companies, partnerships, investors and other groups of shareholders in complex and difficult financial situations. Our goal for the restructuring of a financing is always to maximize value for our clients.

We have developed expertise in many situations and have raised significant amounts of capital for our clients from banks or through subordinated debt markets. Our strength in this regard lies in our in-depth understanding and management of the expectations of the various stakeholders (partners, management, major shareholders, mezzanine investors, customers, suppliers, employees) and balancing the diverse interests within and outside these groups.

loans / Promissory notes

While more than 80% of the credit volume in the USA flows through capital market transactions, in Europe banks still play a leading role. Nevertheless, a robust market for medium-sized bonds, loans and promissory notes has developed, offering financing for a wide range of risk classes and maturities. We are happy to advise and support our customers in the structuring and implementation of these transactions.

Our professional scope of services

Our services for private capital raising transactions typically involve:

1. Developing the Financial Model

This analysis gives a comprehensive picture of the business model over the next years. In addition to sales, margins, cost structure and debt and equity structure, it also includes future liquidity requirements. The financial model thus provides the necessary information for investors to assess the investment potential and to set terms and pricing.

2. Designing the Capital Structure

Through our day-to-day work with equity and debt financing, we have extensive knowledge of institutional lender requirements, funding availability and pricing. We use this information to determine the amount and type of financing required to meet our customers’ needs.

3. Preparing an Investment Memorandum

The investment memorandum presents an accurate picture of the company, its financial needs, the competitive environment and future opportunities. Based on this, it provides a convincing rationale for investing in the company by identifying the potential for an above-average, long-term investment return.

4. Targeting Institutional Investors and Lenders

Finding the right investors for a particular industry is the shortest route to completing a successful transaction. Thanks to our network, we can connect our clients with the investors who are willing and able to provide the required capital.

5. Creating the Issuer Presentation

TD Cowen undertakes the development of an effective issuer presentation that is tailored to the company and its particular needs, while addressing the issues most important to investors.

6. Benchmarking

Medium-sized transactions are usually not open to the public. How do you find out whether appropriate, attractive terms and prices are being offered for a company? We evaluate the offers received by matching them with our transaction library, which contains the terms and conditions for capital contributions around the world.